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Updated over 4 years ago on . Most recent reply

Patrick Stuckwish's profile image
Patrick Stuckwish's profile image
Patrick Stuckwish
  • Real Estate Agent
  • from Houston, TX
  • Member since May 14, 2018
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Patrick Stuckwish's profile image
Patrick Stuckwish's profile image
Patrick Stuckwish
  • Real Estate Agent
  • from Houston, TX
  • Member since May 14, 2018
Connect
Patrick Stuckwish
  • Real Estate Agent
  • Houston, TX
4
Votes |
34
Posts
Multi-Family and Apartment Investing

Assumption based loans

Patrick Stuckwish
  • Real Estate Agent
  • Houston, TX
Posted

Does anyone have experience with doing a deal based on an “assumption based loan”?

What are the things to look out for?

  • Patrick Stuckwish
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    Arn Cenedella's profile image
    Arn Cenedella's profile image
    Arn Cenedella
    • Real Estate Coach
    • from Greenville, SC
    • Member since Dec 10, 2008
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    Arn Cenedella's profile image
    Arn Cenedella's profile image
    Arn Cenedella
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    Arn Cenedella
    • Real Estate Coach
    • Greenville, SC
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    Arn Cenedella
    • Real Estate Coach
    • Greenville, SC
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    @Patrick Stuckwish

    Just be sure to formally apply to existing lender and go through the process to obtain written approval to assume the loan. There will be formal loan docs for you to sign releasing original borrower from liability and transferring liability to you. Also be sure to understand if there are any reserves or impounds attached to the loan as you will be responsible for paying seller for those.

  • Arn Cenedella
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